I certainly wasn't blaming Bush for factories becoming obsolete. You and I agree it's been going on for decades.
What I was doing was citing where the jobs that were being "created" were, i.e., the service sector, which are generally lower paying jobs than US factory jobs. Darren seems to think that the only important point from that article was the job gains. I was pointing to where those job gains were. He didn't like me for doing that.
IMO, the economy is "stimulated" because of the churning of money. Some of it by lower taxes, some of it by lower interest rates, some of it by large deficit spending. Other than some new housing, it's not real value, i.e, nothing of value is being created. Some new housing being an exception.
I think the larger component of influence is the interest rate, which has produced a huge [not normal] market in refinancing and new housing, but along with that is some rather substantial inflation in housing costs. Not an issue for persons that already own homes, but for future first time home buyers that will be a substantial problem.
I doubt that lower taxes had any significant effect. Why? Income tax relief was structured towards the higher income levels. I made out quite well, with the income tax relief thank you. [In spite of Darren claiming I'm on welfare] but that hasn't affected my spending habits one iota.
I'm in a very small minority of persons that believe that our federal income taxes [and rates] are a bargain and a half. Most Americans will pay more in SS Taxes in their lifetime than they will Federal Taxes. The heavy tax burden for the larger majority of people originates mostly at the State/Local level, through State/local income taxes, property taxes, sales tax, tax of liquor, gas etc....that's where the bigger money goes and virtually all that States are raising taxes now. And those tax increase affect lower income people more than higher income people...the sales tax...the ultimate flat tax. You can be unemployed with zero income and you're still paying sales tax.
jttmab |
